Wisconsin has some of the lowest credit card debt when you compare it to other states.
Research published by the business website Chamber of Commerce concluded consumers in Iowa have the lowest credit card debt with an average of $6,726 and Wisconsin has the second lowest credit card debt with an average of $6,737.
Who has the highest credit card debt in the nation? According to the researchers, Alaska does with an average of $10,685. Virginia follows with average of $9,120.
If you’re wondering why some states have a lot of debt and others not as much, it all has to do with a state's economy like cost of living, housing and a state’s employment rate. Plus, researchers say Midwestern states, like Wisconsin, have stronger economies and a better cost of living. They also found consumers tend to be more frugal than others in Midwestern states.
Click here to see where other states rank.